Zevia PBC (NYSE:ZVIA) Short Interest Update

Zevia PBC (NYSE:ZVIA) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 1,404,257 shares, a growth of 29.8% from the December 15th total of 1,082,026 shares. Based on an average trading volume of 1,330,140 shares, the days-to-cover ratio is currently 1.1 days. Currently, 2.1% of the shares of the stock are short sold. Currently, 2.1% of the shares of the stock are short sold. Based on an average trading volume of 1,330,140 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Investors Weigh In On Zevia PBC

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Zevia PBC during the 4th quarter valued at $31,000. CIBC Bancorp USA Inc. purchased a new position in Zevia PBC in the third quarter valued at about $491,000. Qube Research & Technologies Ltd acquired a new position in shares of Zevia PBC during the third quarter worth about $323,000. Focus Partners Wealth boosted its position in shares of Zevia PBC by 100.0% in the third quarter. Focus Partners Wealth now owns 285,892 shares of the company’s stock worth $778,000 after buying an additional 142,958 shares during the period. Finally, Divisadero Street Capital Management LP grew its stake in shares of Zevia PBC by 90.6% in the third quarter. Divisadero Street Capital Management LP now owns 6,159,362 shares of the company’s stock valued at $16,753,000 after buying an additional 2,928,382 shares in the last quarter. Institutional investors and hedge funds own 53.21% of the company’s stock.

Zevia PBC Stock Up 1.1%

Shares of NYSE ZVIA traded up $0.02 during trading on Friday, hitting $1.92. 2,444,323 shares of the company traded hands, compared to its average volume of 1,239,525. The firm has a market capitalization of $144.01 million, a P/E ratio of -8.73 and a beta of 0.87. The company has a 50-day moving average price of $2.40 and a 200-day moving average price of $2.62. Zevia PBC has a 1 year low of $1.66 and a 1 year high of $4.99.

Zevia PBC (NYSE:ZVIA) last issued its earnings results on Wednesday, November 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $40.84 million for the quarter, compared to analysts’ expectations of $39.33 million. Zevia PBC had a negative return on equity of 30.61% and a negative net margin of 8.83%. Research analysts predict that Zevia PBC will post -0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ZVIA shares. Zacks Research downgraded shares of Zevia PBC from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Telsey Advisory Group reissued an “outperform” rating and set a $6.00 price objective on shares of Zevia PBC in a research note on Wednesday. Craig Hallum initiated coverage on shares of Zevia PBC in a research report on Thursday. They set a “buy” rating and a $4.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.68.

About Zevia PBC

Zevia PBC, headquartered in Los Angeles, is a Public Benefit Corporation that produces zero-calorie, naturally sweetened beverages. Founded in 2007, the company went public through a merger with a special purpose acquisition company in March 2021. Zevia’s mission centers on offering healthier drink alternatives by using stevia leaf extract and other plant-based ingredients rather than sugar or artificial sweeteners.

The company’s product portfolio spans multiple categories, including carbonated sodas, sparkling water, energy drinks, mixers and flavored teas.